BRICS

BRICS is the abbreviation of five countries Brazil, Russia, India, China and South Africa and it is annually held since 2009, to build better global economies ties among all five nations. All five BRICS nations are also the members of G20 and the sixth summit has also invited Argentina for the first time, to make it the sixth member in its group.
The first BRIC summit was held in Yekaterinburg, Russia on 16th June, 2009 with the all five leaders Luiz In?cio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao attending the event. On April 15, 2010, BRIC's second summit, the group expanded with South Africa as the latest country to join and thus BRIC became BRICS on December 24, 2010 at Brasilia, Brazil. On April 14, 2011, the third BRICS Summit was attended by the South African President Jacob Zuma along with the four members of Brazil, Russia, India and China in Sanya, China. On March 29, 2012, fourth BRICS Summit was held for the first time in the national capital New Delhi, India with the former prime minister Dr Manmohan Singh as the host leader. On March 26, 2013, the host country of the BRICS Summit was Durban, South Africa.
6th BRICS summit is the sixth annual diplomatic meeting of the BRICS, a grouping of major emerging economies that includes Brazil, Russia, India, China and South Africa. It is hosted by Brazil, as the first host country of the current five year summit cyclethe host city is Fortaleza. Though Brazil hosted a four member BRIC summit in April 2010, 2014 will mark its first full BRICS summit the 2010 summit in Bras?lia did not officially include South Africa, who were only invited as guests in a prelude to full membership, which they achieved in December 2010.
Following the 2013 BRICS summit in Durban, South Africa, the BRICS countries released a joint statement summarising the results of their discussions and naming Brazil as the host country for the 2014 summit.Having agreed to set up a new international development bank during the 2013 summit,the member countries reportedly intend to complete the necessary arrangements for this bank prior to the 2014 summit.The summit was initially scheduled for March 2014, but was shifted to a later date at China's request it will now be held in July.Host President Dilma Rouseff invited the BRICS leaders to the 2014 FIFA World Cup Final. Modi responded in saying "Sports brings about a spirit of amity and belongingness among nations of the world. May the FIFA World Cup become a bridge for connecting nations together! Jo khele, wo hi khile.
BRICS is the acronym for an association of five major emerging national economies Brazil, Russia, India, China, and South Africa.The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast growing economies and significant influence on regional and global affairs all five are G 20 members.As of 2013, the five BRICS countries represent almost 3 billion people with a combined nominal GDP of US$16.039 trillion and an estimated US$4 trillion in combined foreign reserves.As of 2014, the BRICS nations represented 18 percent of the world economy.South Africa held the chair of the BRICS group in 2013, having hosted the group's fifth summit in 2013.The BRICS have received both praise and criticism from numerous quarters.Argentina will participate in the Fortaleza Summit to be held in July 2014 in response to an invitation by Russia. in that meeting, the BRICS countries will discuss the possible admission of Argentina as the sixth member country.The term, "BRICS", was coined by economist Jim O'Neill in his publication, Building Better Global Economic BRICs.The foreign ministers of the initial four BRIC states (Brazil, Russia, India, and China) met in New York City in September 2006, beginning a series of high level meetings. A full scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 May 2008.